Countrywide Financial Corp. co-founder Angelo Mozilo said under oath last year that he had “no regrets” about how he ran the mortgage firm and that he only agreed to a record $67.5 million regulatory settlement in 2010 to protect his children.

Mozilo, who led the lender blamed by lawmakers and regulators for contributing to the housing collapse, spoke in a June 2011 deposition as part of a lawsuit between his firm, which was bought by Bank of America, and MBIA, according to documents filed this week in New York. MBIA, once the biggest bond insurer, claims Countrywide committed fraud by securitizing risky loans.

The crisis was “not caused by an act of Countrywide,” said Mozilo. “This is all about an unprecedented, cataclysmic situation, unprecedented in the history of this country. Values dropped by 50 percent.”